Escodex will shut down permanently

[Thekingcallme 1975]

The majority of platforms announce their closure due to legal issues and this is what happened to Escodex Exchanger

[Saj555 2250]

That's a sad news. I don't know why some good exchange platforms are getting shut down by time. Because those exchange sites were the best of all and listed on top of the list. Another few exchange sites are closed meanwhile. But as they are closing in we hope to see some new platforms that will actually gives us the same facilities as those platforms once  gave us. 

[Rozy 1918]

It is so unfortunate to put your trust in an exchange site then be fooled, that is why it is better not to deal with new exchange but to go for ones with years of experience, old exchange have already won credibility and you can trust them with your money. 

[DreamStage 2105]

I also knew about escodex during 2019 and i believe the reasons behind that were just because some investors were money laundering therefore that exchange company got flagged from their countries legislations.

 

Hence the fact that the actual proper solution for them was to implement KYC (Know your Customer) and that's one of the main reasons exchanges like Coinbase, Blockchain etc are asking for such paperwork.

 

And i believe if escodex done just that they would be safe...

 

[Aledar 48]

Legal issues is the thing that kills exchanges, just because they didnt had KYC they got removed and because they got money laundering people on exchange.

[Teminali69 1081]

Legal issues??!! this is of no good, cryptocurrency keeps sinking into the madness of legal nonacceptance which is killing everyone's home about the success of crypto and the future of this new technological evolution.

[David84 1191]

My advice for you is to never deal with new exchange they might be at trial period and their situation is not settled yet .. look for more secured exchanges and members here can give you many names.

[joemcgwa 3227]

On 10/9/2019 at 11:43 PM, Ahaameed Asif said:

Did you guys heard about escodex exchange?
It was already listed on coin market cap
you guys can check this out from here CoinMarketCap

But Unfortunately they are going to shut down their exchange permanently because of some legal issues
By the way if you guys have any funds into their then withdraw it fast before 15 October 2019

That's why we are advised that w don't have to hold funds in the exchange like a wallet, because mostly of the exchanges are closed because of legal issues, so if you hold money in exchange and you don't get the news of withdrawing your funds, that's means you'll be lost your funds.

[guatazoo 7150]

On 3/26/2020 at 5:40 PM, iloveyobit said:

This is a very unfortunate thing. It is bad to see platforms that are closed due to problems or bankruptcy and even subject to penetration. I do not wish that this would happen to anyone.

But when the exchange planned to be closed, this might be good if they will be paying users money, although it will be sadly somehow for the exchange that's people are interested with it getting closed.